SeamlessWeb Tops Deloitte's New York Technology Fast 50 Ranking of Fastest- Growing Technology Companies, with 25,855 Percent Growth Over Five Years
Technology Fast 50 Winners Experience Average Revenue Growth of 245 Percent
NEW YORK, Nov. 3 /PRNewswire/ -- SeamlessWeb Professional Solutions, whose software links businesses and homes with restaurants in major metropolitan areas, was named the fastest-growing technology company in the state of New York, with 25,855 percent revenue growth over five years. A Rising Star in Deloitte's regional Technology Fast 50 program last year, SeamlessWeb was recently named the seventh-fastest growing technology company in North America by the Deloitte Technology Fast 500. Now in its seventh year, the New York Technology Fast 50 program -- organized by Deloitte & Touche LLP -- ranks technology companies located in the state by revenue growth over five years. This is the first time that the program surveyed the entire state; last year's New York program focused exclusively on New York City, as well as Westchester and Rockland counties, and a separate program in Long Island. "We're excited to include upstate New York and Long Island in our expanded New York Technology Fast 50 program. Innovation and success are everywhere, from the suburbs of Suffolk County to the canyons of Manhattan to the laboratories of "Tech Valley" and the Capital Region and beyond," said Ed Moran, a director at Deloitte Services LP who leads the product innovation group and the chairperson of the New York Technology Fast 50. "The winners show that successful technology companies aren't only a West Coast phenomenon. Indeed, our number one company ranks seventh in our national Fast 500 program. With the New York Technology Fast 50 now focusing on the entire state, this was a very competitive year, and we congratulate our Fast 50 class this year for their determination and success in driving a formidable 245 percent average growth rate over the past 5 years." This year's winners contributed more than $15 billion in revenues to the economy in 2004, collectively growing almost two and a half times the revenue over the past 5 years; last year, the average revenue growth for the 50 companies was 50 percent. The 50 companies that comprise this year's list were honored at an award event last night at New York City's Battery Gardens Restaurant. The New York Technology Fast 50 ranking is as follows: Rank Company Name City 5-Year % Growth 1 SeamlessWeb Professional Solutions, Inc. New York 25,855% 2 FalconStor Software, Inc. Melville 19,976% 3 Return Path, Inc. New York 11,793% 4 Medidata Solutions, Inc. New York 9,126% 5 I-Behavior, Inc. Harrison 7,253% 6 User Centric Communications, Inc. New York 2,872% 7 SchoolNet, Inc. New York 1,946% 8 Translations.com New York 1,672% 9 Applied Wireless Identifications Group, Inc. Monsey 1,178% 10 Mimeo.com New York 1,120% 11 Par Pharmaceutical Companies, Inc. Spring Valley 712% 12 Crystal IS, Inc. Green Island 704% 13 Patient Infosystems, Inc. Rochester 636% 14 WebRecruiter, LLC New York 562% 15 RiskMetrics Group, Inc. New York 556% 16 DHB Industries Inc. Westbury 386% 17 Saliva Diagnostic Systems, Inc. Brooklyn 330% 18 Intrasphere Technologies, Inc. New York 326% 19 Viewpoint Corporation New York 306% 20 SIGA Technologies, Inc. New York 281% 21 Oddcast Inc. New York 266% 22 L-3 Communications Holdings, Inc. New York 261% 23 Interpharm Holdings Inc. Commack 261% 24 Eon Labs, Inc. Laurelton 260% 25 Direct Insite Corp. Bohemia 257% 26 Communication Power Corporation Hauppauge 253% 27 Comtech Telecommunications Corp. Melville 236% 28 Aeroflex Incorporated Plainview 227% 29 Intelli-Check, Inc. Woodbury 226% 30 Take-Two Interactive Software, Inc. New York 214% 31 eMeta Corporation New York 213% 32 Scientific Games Corporation New York 211% 33 Forest Laboratories, Inc. New York 204% 34 Vitech Systems Group, Inc. New York 202% 35 On2 Technologies, Inc. Clifton Park 202% 36 Regeneron Pharmaceuticals, Inc. Tarrytown 194% 37 GlobalServe, Inc. Valhalla 178% 38 LivePerson, Inc. New York 177% 39 Entre Computer Services, Inc. Rochester 164% 40 FiberNet Telecom Group, Inc. New York 164% 41 Langer, Inc. Deer Park 160% 42 EDO Corporation New York 159% 43 Albany Molecular Research Inc. Albany 145% 44 Alacra, Inc New York 138% 45 FatWire Corporation Mineola 127% 46 AngioDynamics, Inc. Queensbury 125% 47 Delta Computer Services, Inc. Farmington 125% 48 OpenLink Financial, Inc. Uniondale 123% 49 Medsite New York 114% 50 Hi-Tech Pharmacal Co., Inc. Amityville 113% Winners are selected based on percentage revenue growth over five years from 2000 to 2004. To be considered, Technology Fast 50 entrants must: have operating revenues of at least $50,000 in 2000 and at least $1,000,000 in 2004; be headquartered in the state; be a "technology company," defined as a company that owns proprietary technology that contributes to a significant portion of its operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology in a unique way does not qualify. Subsidiaries and divisions are not eligible, unless they have some public ownership and are separately traded. Trends among this year's list include: -- Manhattan is home to half of the state's Technology Fast 50 companies, with Long Island (Nassau and Suffolk counties) being the base for 11. Westchester County boasts 3 winners, and both Albany and Rockland have 2 Technology Fast 50 companies. -- Software leads among industry representation with 15 companies on the list. Biotech and Internet follow closely behind, with 9 and 8 companies, respectively. -- While private companies take 9 of the top 10 slots, the majority of this year's Fast 50 are public companies (26 public vs. 24 private). -- SeamlessWeb was also the seventh-fastest growing technology company in North America over the past 5 years, according to the Deloitte Technology Fast 500. It was one of 21 companies that made the list from the state. A special category called "Rising Stars" recognized the fastest growing technology companies based on revenue growth over a three or four year period (2001-2004). In this year's program, CORESense, Inc. (based in Saratoga Springs) was the sole company named to this category, with 633 percent growth over three years. The Technology Fast 50 program is presented by Deloitte, in association with The Bank of New York, Geller & Company, NASDAQ, Proskauer Rose, UK Trade & Investment, Rensselaer County and the NYU Stern School of Business. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu," or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein. Deloitte & Touche USA LLP is the U.S. member firm of Deloitte Touche Tohmatsu. In the U.S., services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP, and their subsidiaries), and not by Deloitte & Touche USA LLP. As used in this press release, the term "Deloitte" includes Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP and Deloitte Tax LLP.
SOURCE Deloitte & Touche LLP
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